1916 · PDF PAGE 2
A Prophet In His Own Country
…If it were not for this, the present system could never have been created. As things are, a piece of paper is just as good as a piece of gold; but, as everyone knows, even the financiers, ninety five per cent of the gold never existed. The possibility of calling for gold has so frightened those very people who have been screaming for years that gold was the only basis, that already there has been a threat to demonetize gold. This is no vain threat. It is quite possible and will almost certainly be necessary; though probably the process will be …
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